Nike Correlations

NKE Stock

USD 63.11 0.71 1.14%

The current 90-days correlation between Nike Inc and Deckers Outdoor is 0.7 (i.e., Poor diversification). The correlation of Nike is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Nike Correlation With Market

Very weak diversification

The correlation between Nike Inc and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nike Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nike Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nike Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Nike Stock

0.72	AS	Amer Sports,	Pair Corr
0.93	BC	Brunswick	Pair Corr
0.62	RL	Ralph Lauren Corp	Pair Corr
0.91	UA	Under Armour C	Pair Corr
0.67	DOGZ	Dogness International	Pair Corr
0.84	DOOO	BRP Inc	Pair Corr
0.65	VEEE	Twin Vee Powercats	Pair Corr
0.85	VNCE	Vince Holding Corp	Pair Corr
0.74	VUZI	Vuzix Corp Cmn Tech Boost	Pair Corr
0.75	WLDS	Wearable Devices Tech Boost	Pair Corr
0.82	EZGO	EZGO Technologies	Pair Corr
0.62	BLD	Topbuild Corp	Pair Corr
0.81	BZH	Beazer Homes USA	Pair Corr
0.84	CCS	Century Communities	Pair Corr
0.81	FOSL	Fossil Group Buyout Trend	Pair Corr
0.74	CRI	Carters	Pair Corr
0.72	DHI	DR Horton	Pair Corr
0.83	GIL	Gildan Activewear	Pair Corr
0.62	HAS	Hasbro Inc	Pair Corr
0.88	HBI	Hanesbrands	Pair Corr
0.89	HWH	HWH International	Pair Corr
0.92	KBH	KB Home	Pair Corr
0.94	LEN	Lennar	Pair Corr
0.91	MAT	Mattel Inc Sell-off Trend	Pair Corr
0.88	MHO	MI Homes	Pair Corr
0.92	MOV	Movado Group	Pair Corr
0.74	MSN	Emerson Radio	Pair Corr
0.85	MTH	Meritage	Pair Corr

Moving against Nike Stock

0.5

FORD

Forward Industries

Pair Corr

Related Correlations Analysis

	DECK	ONON	SKX	SHOO	CROX	DBI	ADDDF
DECK		0.69	0.85	0.89	0.46	0.9	0.82	DECK
ONON	0.69		0.73	0.42	0.66	0.55	0.56	ONON
SKX	0.85	0.73		0.73	0.73	0.83	0.69	SKX
SHOO	0.89	0.42	0.73		0.37	0.91	0.8	SHOO
CROX	0.46	0.66	0.73	0.37		0.56	0.39	CROX
DBI	0.9	0.55	0.83	0.91	0.56		0.81	DBI
ADDDF	0.82	0.56	0.69	0.8	0.39	0.81		ADDDF
	DECK	ONON	SKX	SHOO	CROX	DBI	ADDDF

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Risk-Adjusted Indicators

There is a big difference between Nike Stock performing well and Nike Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Nike's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DECK	2.63	(0.15)	0.00	(0.16)	0.00	0.00	5.10	(4.47)	20.28
ONON	3.11	0.32	0.07	0.17	4.14	(3.35)	5.21	(5.62)	21.99
SKX	2.42	0.14	0.03	0.06	3.69	(2.74)	4.05	(5.35)	24.75
SHOO	3.05	(0.44)	0.00	3.92	0.00	0.00	9.59	(7.63)	25.96
CROX	3.10	0.59	0.17	0.40	3.15	(3.91)	8.27	(4.16)	37.85
DBI	4.14	(0.23)	0.00	(0.17)	0.00	0.00	6.40	(8.47)	29.73
ADDDF	2.16	(0.12)	0.00	(0.72)	0.00	0.00	3.95	(4.52)	18.81

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